Nofar Energy Acquires Highlight Solar Company for 200 Million Shekels

Nofar Energy, controlled by Ofer Yanai, announced it has signed an agreement to purchase the energy company Highlight from real estate developer Gabi Buskila for 200 million shekels. The deal was revealed four days after negotiations were first reported by Calcalist. Nofar will acquire 92.5% of Highlight's shares, with the remaining shares retained by the original developers. Over the years, Buskila has invested capital into Highlight and effectively financed its operations. Both Highlight and the Buskila brothers' real estate development company are based in Netivot.

According to Nofar, Highlight holds rights to 30 solar power and energy storage projects at various development stages, some already under construction. These projects have an estimated capacity of 850 megawatts of power generation and 4.4 gigawatt-hours of storage capacity. The acquisition will be executed by Nofar Israel, managed by Nadav Barkan.

Nofar stated that acquiring Highlight is a strategic move to strengthen its local project pipeline and deepen its activities in solar and energy storage. The transaction is expected to expand Nofar Israel's growth base through a quality portfolio in development, create synergies with existing operations, and enhance its position in Israel's renewable energy market.